A new amendment in the finance bill has introduced a fixed tax rate of 6 percent on cars with engine capacities ranging from 2001cc to 2500cc. Previously, filers were required to pay Rs150,000 in tax for these vehicles, while non-filers had to pay Rs300,000.
Furthermore, the upcoming budget will enforce an 8 percent tax on cars with engine capacities between 2501cc and 3000cc. Previously, filers were charged Rs200,000, while non-filers had to pay Rs400,000 for such vehicles.
For cars exceeding 3000cc, a fixed tax rate of 10 percent has been implemented. Previously, filers were liable for Rs250,000 in tax, while non-filers had to pay Rs450,000.
These changes aim to streamline and simplify the tax structure for different vehicle categories.
